The Business Cocktail
Orchard files for USD173 Million IPO to run pivotal gene therapy trials
Orchard Therapeutics, Transatlantic biotech, has filed to raise USD 173 million in an IPO. This will lead it to take three gene therapies through the clinic. Orchard recognised itself as one of the broadest clinical-phase gene therapy pipelines in the industry when it added the portfolio of GlaxoSmithKline to its existing assets. Orchard carried out the GSK deal with a USD150 million series C to bolster its growing pipeline. Now, Orchard having around USD 200 million in cash following the series C, the slated USD 173 million will land itself in a robust position financially.
Johnson & Johnson puts hefty money on RNA interference
Janssen, the research unit of J&J, has signed an agreement of a USD 3.75 billion licensing deal that provides it rights to as many as four RNA interference therapies from Arrowhead Pharmaceuticals, California based biopharmaceutical company. The research unit has already selected one of those therapies to license: ARO-HBV, an investigational, subcutaneous and potentially curative treatment for hepatitis B. Arrowhead commenced a Phase 1/2 study of ARO-HBV before, but Janssen likely to acquire development and commercialization. When the agreement ends, Arrowhead will receive USD 250 million through a USD 175 million upfront payment and a USD 75 million equity investment from J&J’s investment arm.
Rgenix receives USD 40 million to progress cancer drugs
Rgenix, New York-based biotech has bagged USD 40 million in series C financing for the accomplishment of early and mid-stage trials for a pair of cancer drugs: an immunotherapy for solid tumours and a cancer metabolism inhibitor for gastrointestinal cancers. The immunotherapy and Rgenix’s main candidate- RGX-104, is designed to aim the LXR/APoE pathway that regulates the innate immune response in cancer. It licensed the drug from GlaxoSmithKline. The second drug, RGX-202, was developed that targets SLC6a8, a creatine transporter that is overexpressed in multiple cancer types. The company will bolster a phase 1b/2 trial for RGX-104 and commence a phase 1 trial for RGX-202 soon.
GlaxoSmithKline gives a helping hand to a startup
GlaxoSmithKline has bolstered Sitryx, recently formed British biotech, to a USD 30 million funding round. The startup will make use of the capital and also the relationship with GSK will help in moving immunometabolism assets towards human testing. Sitryx is doing research on the role of metabolic pathways that play in the function of immune cells and, the development of cancers and autoimmune diseases. By doing so, Sitryx and its transatlantic syndicate of founding scientists contemplate regarding correction of immune cell function and halt tumour growth. GSK became cognizant of the research. Hence, mulling over the potential, GSK’s drug discovery and chemistry teams are collaborating with Sitryx.
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